PEORIA, Ill. (WMBD) — Caterpillar and UAW Local 974 are in the midst of negotiations for their next six-year contract, but there could be a strike on the horizon.

The current contract expires on March 1. Caterpillar and the union have been exchanging contracts and proposals during main table negotiations since January 23. Subcommittee negotiations began on January 30, according to Caterpillar’s website

On Friday, union members authorized a strike, which gives union leaders the authority to call a strike if negotiations don’t improve.

Union leaders and Caterpillar are staying tight-lipped about negotiations. UAW Local 974 leaders declined to comment and a Caterpillar representative directed all of WMBD’s questions to their website.

In a December newsletter to union members, UAW Local 974 President Randy Diehls indicated their largest demands surround wages, benefits, 401K and vacation time, though details are unclear.

Bargaining Chairman Bobby Koller said he “remains optimistic” they can come back with a fair contract in the same newsletter.

Some non-union Caterpillar employees are receiving contingency training in case a strike happens.

Caterpillar will release its 2022 fourth quarter and year-end financial results on Tuesday.